Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Automotive lighting manufacturer Varroc Lighting Systems is to recruit about 400 people and increase the current 2,500 staff at three sites (Nový Jičín, Rychvald, Ostrava) over the next few months. Within the next 18 months, the company wants to invest CZK 1.8 billion (EUR 66.6 million) The firm supplies headlights to Jaguar, Ford, PSA, Volkswagen (VW), Bentley, Mercedes, Skoda, Lincoln, Cadillac and Tesla.
Varroc Lighting Systems is experiencing a fast-paced growth. In the last financial year, its revenues increased from under CZK 9bn to a record CZK 10.20bn (EUR 377.49mn).
Eurofound (2016), Varroc Lighting Systems, Business expansion in Czechia, factsheet number 88876, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88876.